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you. congress and the president have just 40 days to avoid the so- called fiscal cliff. when the ball drops on new year's eve, tax hikes and severe spending cuts will kick in automatically unless a deal is reached. wyatt andrews spoke with two men who say they know how it should be done, if only washington would listen. >> reporter: two years ago, the fiscal commission chaired by democrat erskine bowles and former republican senator alan simpson proposed every basic element of the fiscal cliff solution being discussed now. their plan was a mixture of higher taxes, lower spending and the reform of medicare and social security. both men told us sacrifice has to come from everyone. >> all of us have to have some skin in the game to get it done. >> if you want something, pay for it. it's a sick idea, but it is an interesting idea. >> reporter: their biggest idea was to increase revenue by combining both the president's demand for higher taxes on the rich and the republican proposal to get rid of tax loopholes. bowles/simpson would eliminate almost every tax deduction for individuals and c
to avert the so-called fiscal cliff, those are the tax increases and spending cuts that will take effect next year. republicans and democrats continue to squabble over raising taxes and sparing entitlement programs like medicare and medicaid. today the president discusses the issues with leaders of major corporations. he met with small business leaders yesterday. susan mcginnis is in washington. >> reporter: while the two sides remain deadlocked president obama is taking his case to the american people trying to drum up support. republicans are complaining that instead of being out campaigning he needs to sit down with them and work out a deal. it's a short drive up pennsylvania avenue from the capital to the white house but congressional republicans and president obama are getting farther apart in their effort to keep the nation from veering off the so-called fiscal cliff. a series of tax hikes and spending cuts due to kick in at the end of the year. >> seems like our friends on the other side is having difficulty turning off the campaign. >> reporter: the white house says the campaign
, there are -- 4:37, now, there are just five weeks until america goes over the fiscal cliff. susan mcginnis is in washington with what republicans and democrats now say they are willing to do to reach a deal. >> reporter: president obama and congress begin negotiations this week to avoid are the coming fiscal cliff, about $6 billion in tax hikes and spending cuts that will kick in. both sides say they're looking for ways to compromise. >> that's what it's about, if regan and o'neill can do it, obama should be able to do it. >> reporter: but republicans have consistently voted against any deal that raises tax revenue. >> the key is whether or not the republicans will move away from the id logically rigid tradition which was the grove pledge that they will not go for additional revenue. >> reporter: for the first time the antitax pledge seems to be negotiable. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid the coming grief and republicans should put revenue on the table. >> reporter: but new revenue doesn't necessarily mean new taxes.
about the prospect of reaching a deal to avoid the fiscal cliff but cbs reporter danielle hotting ham said they're also sounding some alarms. >> reporter: the senate returns today with just five weeks left to hammer out a deal to avoid the fiscal cliff. republican senator bob corker says lawmakers need to show some political courage to prevent tax increases and spending cuts from taking effect january 1st. >> there's a menu of options on the revenue side and on the entitlement side, and while there are two parties, they are willing to solve this problem, this is a very easy thing to do technically. >> reporter: republicans are hinting they may be open to a compromise that raises revenue but many are still firm they won't let bush-era tax cuts expire for the wealthiest americans. >> i would be very much opposed to raising tax rates but i do believe we can close a lot of loop holes. >> reporter: democrats say just closing loop holes and limiting deductions is not enough to make a dent in the nation's $16 trillion deficit. >> you've got to raise additional revenues, including tax rate
on the so-called fiscal cliff. some republican lawmakers are talking compromise as they try to reach a deal to avoid the tax increases and spending cuts due to kick in early next year. susan mcginness is in washington with all details this morning. good morning to you. >> talks are starting on capitol hill this week amid new signs republicans are willing to take a new look at an anti-tax pledge they made. president obama and congress begin negotiations this week to avoid the coming fiscal cliff. about $600 billion in automatic tax hikes and spending cuts that will kick in at year-end. both sides say they're looking for ways to compromise. >> that's what representative government should be about. no one gets all they want. if reagan and o'neill could do it, boehner and obama should be able to do it. >> reporter: but republicans have consistently voted against any deal that raises tax revenue. >> the key here is whether or not the republicans will move away from the ideologically rigid position which has been the grover/norquist pledge which most of them signed that they will not go for addit
of this week, and things are slowing down and we're looking at a potential fiscal cliff stalemate. >> desmight republicans to put higher tax revenue from the wealthy on the table, democrats are scoffing. he they talked happy talk about are skofg.t we only have a auple of weeks to get something ouple of we have to get away from the happy talk and start talking aout specific things. dent obama hasbama has no new witht talks scheduled with congressional leaders but will cong phila suburban philadelphia aiday to press for an immediate bushto extend bush era tax cuts for m ers.blicans call that agningless electioneering. >> we congratulate him on his re-election. we don't know if he has enough todership qualities to push democrats. >> cost savings to health care aregrams like medicare and medicaid. everyry dollar that's ever been secured for anything is sacred. to they'll defend it to the wath, regardless of what it means for jobs or the economy. > a tough white house ally, nglinois senator dick durbin argued against using fiscal cliff pressures to scale back paidare and medicaid benefits. >> these
when it comes to avoiding the "fiscal cliff." some republicans said they are willing to consider some tax increases but they are insisting on larger budget cuts to benefit programs, which democrats oppose. if all sides can't agree on a spending plan before the year's end, automatic tax hikes and across-the-board budget cuts will all kick in. >> we must do everything we can during this short period of time to ensure that middle class families are not hit with $2,200 a year in tax increases. >> i hope cooler heads will prevail as we move through the process. we need to be working together. >> president obama is trying to generate public support for his idea. he will meet with corporate executives at the white house then travel to pennsylvania on friday to push for higher tax rates for the wealthy. >>> after meeting with her harshest critics, senate republicans say they are even more troubled over u.n. ambassador susan rice's initial response to the deadly terror attack in benghazi. in a closed meeting yesterday, rice met with several senators including arizona republican john mccain. ri
. >> the fiscal cliff sparks talks of compromise on capitol hill. >> without a deal spending consults and tax increases will kick in at year's end likely sending the country into another recession. >>> several republicans back away from a tax increase. >> if congress does nothing, which congress has gotten pretty good at doing these days we'll go over the fiscal cliff. >> we have to show the world we're adults. the election's over. president obama won. >>> it's a big weekend for shopping. it isn't over yet. today is cyber monday. the biggest day for online sales. >> shoppers are expected to spend $1 billion 1/2 today. >> and some like to shop in bunny slippers. >> and fret mohammed morsi granting himself extra powers. >> sending the country's stock market into free fall. >> buy a ticket for this wednesday's powerball lottery, you could win in the megaball. >> bradshaw with the touchdown. >> giants tommenate. >> officially a time-out. >> cheerleaders shave their head to support the coach diagnosed with leukemia. >> and all that matters -- >> suddenly changes into
or twitter, or email us at mornings@cbs5.com. >> still no deal on capitol hill to avoid that "fiscal cliff" at the end of the year. some republicans have said they are willing to consider some tax increase but they are insisting on larger budget cuts to benefit programs which of course the democrats oppose. if all sides can't agree on a spending plan before year's end the automatic tax hikes and across-the-board budget cuts kick in. >> we must do everything we can to ensure that middle class families are not hit with $2,200 a year in tax increases. >> i hope cooler heads will prevail as we move through the process. we need to be working together. >> president obama is trying to generate public support for his ideas. he is going to meet with corporate executives today at the white house, then travel to pennsylvania friday to push for highers taxes for the wealthy. >>> susan rice on capitol hill today again to meet with lawmakers. the u.n. ambassador is trying to explain comments she made shortly after attacks on the u.s. consulate in benghazi, libya. yesterday she met with three of her stro
the fiscal cliff. what does it really mean for you. for a household earning 20 to $40,000 that would mean a tax increase of 1,200-dollars. for a household airporting 40 to 60 it would mean a tax increase of $2,000. 64,000 up to six figures it would be a 3,500-dollar tax increase. it appears the tax deal is being worked out by two people. house speaker john baner and the president. it's expected to be a mix of revenue increases. probably a small tax hike on the wealthiest americans and spending cuts. of course any deal has to pass the republican controlled house. >>> shoppers don't appear to be too worried about the fiscal cliff. this is shaping up to be the best cyber monday ever. sales are up 28 percent from last year. cbs reporter anthony mason found out the last few days have been busy. even during dinner time. >>> amazon.com's biggest shipping center in phoenix arizona is the size of 28 football fields. last cyber monday it's busyist day of the year, amazon processed 200 orders per second. amazon vice president craig says the company expects business this year will be even better. >>
fiscal cliff, it will increase the likelihood of another recession. lawmakers say they're willing to compromise. >> when you're $16 trillion in debt, the only pledge we should be making to each other is avoid becoming brief and republicans should put revenue on the table. >> the big questions are whether republicans are open top some forms of tax increases and whether democrats will consider cuts to entitlement programs. >>> e elected officials including the governor and all the legislatures are getting their pay cut by 5%. for example, pay for the attorney general palilia harris is being cut to $143,000. that's a hundred thousand less than her replacement. but people don't run for office for the money. >> they're doing it because of a variety of factors, including the pursuit of power, the ambition to go to higher places and also of course hopefully public service that they want to give back to their community. >> the california citizens compensation commission ordered the pay cuts and they cut per diem pay by 18%. >>> carbon monoxide sent more than a dozen people to the hospital
fiscal cliff, those tax increases and spending cuts that would kick in next year. lawmakers returned to washington yesterday amid some talk of compromise, but the issue of how to raise revenue remains a critical and hard to overcome sticking point. susan mcginnis is live in washington with more. >> reporter: those changes kick in if no alternative deal is made. as of now, both sides are still talking about their willingness to compromise, but when it comes to that main issue, raising tax rates, both sides are digging in. democratic senator dick durbin will give what's being called a major speech laying out a case for a bipartisan fiscal deal. he's a member of the senate's gang of eight, four democrats and four republicans who have collaborated on ways to reduce the nation's debt for two and a half years. democratic senator mark warner is part of the gang and says democrats are willing to put entitlements like medicaid and medicare on the negotiating table. >> the math just doesn't work anymore. not because the programs are bad, but because thank goodness, we're living a lot longer. >
. >>> but also this half hour, higher taxes on the table as the country edges closer to that fiscal cliff at the end of the year. some republican lawmakers are rethinking their promise not to raise the taxes. >>> and then here's a tax problem worth having, the tax bill on a record $425 million powerball jackpot that's up for grabs wednesday night. people across the country are dreaming. >> and we all know the chances are beyond slim. i think, the money you are putting down is for the fantasy. just that moment, you go, "man if i won this, wouldn't that be great." you're buying that moment of escape. not buying a real shot. >> you're very familiar with fantasizing, right? >> oh, yeah. >> money. winning. >> helps you get through the day. >>> and later they're back. 'tis the season for my favorite family, the griswolds, what got them together for 30 seconds after 23 years. can't believe it's been that long. details on what they're doing coming up in "the skinny." if you do not like national lampoon's "christmas vacation." you have no soul. funniest holiday movie ever. love the griswolds. >> c
that is going to affect your taxes in just 34 days. that is the so-called fiscal cliff: automatic tax increases and federal budget cuts that will be imposed unless president obama and congress can make a deal on budget reform. not even everyone in the president's own party is with him on this and nancy cordes is on capitol hill for us tonight. nancy? >> reporter: scott, a rift has opened up between the white house and liberal democrats over what should be on the table in these talks. some democrats even say they're willing to let all the bush tax cuts expire, at least temporarily, even if they don't get the deal they want. senator patti murray of washington state is one of them. she says negotiations should focus far more on raising tax revenue than cutting spending. republicans are calling democrats like you "thelma and louise" democrats because you've expressed a willingness to go off the fiscal cliff. >> i'm willing to take a very tough stand and say to those on the other side that we are not going to accept an unfair deal that hurts middle-class america today and protect the wealthiest amer
. >>> on to the "fiscal cliff" drama now where high hopes for a bipartisan solution are slipping a bit in washington. as susan mcginnis reports from capitol hill, democrats and republicans seem to be drifting apart again. >>> reporter: it's a short drive up pennsylvania avenue from the capital to the white house. but congressional republicans and president obama are getting farther apart in their efforts to keep the nation from veering off the so-called "fiscal cliff." a series of tax hikes and spending cuts due to kick in at the end of the year. >> seems like our friends on the other side are having some difficulty turning off the campaign. >> reporter: the white house says the campaign gives the president support from the american people. >> the election was conclusive in terms of which path a majority of americans want to take. >> reporter: president obama will try to build support when he meets with middle class americans here in washington today. he will ask them how the "fiscal cliff" could impact their lives. on tuesday, he invited small business owners into the oval as of to offer their idea
vasquez, cbs 5. >>> and the cliff. coming up in the next half hour, avoiding the fiscal cliff. congress back at work after the holiday break and shifting view op tax -- on tax reform and their demand from democrats. >>> and why more workers at a bay area airport could be allowed to carry firearms. >>> a bay area college launches a new recruiting strategy. why it is spending six figures to target a specific group of students. ,,,,,,,, when i take a picture of this check, it goes straight to the bank. oh. oh look the lion is out! no mommy no! don't worry honey, it only works on checks. deposit checks from your smartphone with chase quickdeposit. just snap a picture, hit send and done. take a step forward and chase what matters. oh, it's great! now i can brew my coffee just the way i love it. how do you do that? well, inside the brewer, there's this train that's powerful enough to carry more coffee and fresh water to make coffee that's stronger and bigger... and even hotter! actually, i just press this button. brew the coffee you love -- stronger, bigger, or hotter -- for ways to hit the b
three weeks left before the fiscal cliff, the clock is ticking for president obama and congress. >> the clerk will read the communication. >> reporter: lawmakers are back at work and under the deadline pressure. >> we can solve the greatest economic emergency facing the nation today. >> reporter: white house economist say without a deal to avoid the fiscal cliff, americans may start closing their wallets during the critical holiday shopping season. and curb their spending well into next year. >> they think that it is important that congress extends the middle class tax cuts without delay, without drama. and it is because it will help to maintain the increase in the consumer confidence that we have seen. >> reporter: both sides say they are ready to compromise to avoid the nearly $600 billion in tax hikes and mandatory spending cuts, scheduled to kick in on january 1. but the taxes, they remain the sticking point. republicans and congress, they have been long opposed to any tax increases, but the gop lawmakers say that they are open to raising more revenues through the tax ref
cutting back on business travel before the potential fiscal cliff, usa today says. one company will spend $20 billion less in the next two years if the fiscal cliff happens. >>> the boston herald reports massachusetts highway safety director is resigning. sheila burgess came under fire because her driving record includes seven accidents, four speeding violations and a ticket for not wearing a seat belt. did we mention she's the highway safety director? this week, the governor said it was a screw up his words, to hire burgess for that job. she cites health reasons for her resignation. >>> and the telegraph says the pope says in his new book that christ was born earlier than commonly thought. he says dennis small made that mistake many years ago and nobody caught it. many believe he was born between 17 bc and 200 bc. >>> good morning, and happy thanksgiving! weather outside looking very nice as we expect high pressure to build in overhead. temperatures warming up very nicely toward the afternoon a little chilly early on today. but the latter part of the
and didn't. >> we weren't going to get the negotiations required to sail off of the fiscal cliff. >> there's the tax hike romney's question i consider them very different projects. obama is trying to put them together. the same way he wants you to -- what i hear is that one or all of them will be sailing off january 1st and the quit jumping medicare because they get 30% less i believe the member is the payroll taxes go up which weeks all the people of that have never heard of the sequester. i am having a very difficult time visualizing with what february looks like when the press gets a hold of this and then all of a sudden we also have the debt limit. i just can't see what we are going to do. >> the debt limit is an additional tool to explain to obama that he isn't the king and like henry viii you have to go to the parliament for money. he might want to nationalize monastery's but i don't think he can get as much these days as back then with that approach so he has to go to the parliament, has to go to congress for the resources for the debt ceiling, for all of these things. and look it w
of the business leaders, if you do not want to go over the fiscal cliff? -- fiscal cliff, they want it to be a stage set for tax reform. -- this week, you're going to see a lot of focus on the entitlement portion and the republicans have held their tongues. the whole discussion is about revenue. they are marshalling their ceo's to make demands on entitlements. >> so many of the business leaders don't want to go over the fiscal cliff. they really want tax reform to happen. whatever happens, they want this to be a stage setter. >>>> thank you for being on "newsmakers." [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] >> tomorrow on c-span, we look back at august 2011, as the news conferences around the budget control act. this created sequestration. that is split 50-50 between defense and non-defense spending. >> in january, our first week that we were sworn into office, the present as for the increase in the debt ceiling and i made it clear that there would not be an increase in the debt ceiling without changes to the wa
the "fiscal cliff." he is meeting today and tomorrow with small business owners and middle class families and he will visit a small business in pennsylvania on friday. negotiations with republicans continue behind closed doors. a democratic senator says his side is willing to discuss reform of medicare and medicaid. >> the math just doesn't work anymore. not because the programs are bad but because thank goodness we're living longer. >> republicans are signalling they're open to compromise but so far, they still oppose the president's idea to raise taxes on the wealthy. instead, republican leaders want to limit tax deductions and loopholes without an agreement. across-the-board tax hikes will take effect on january 1 without an agreement. here's a breakdown of what would happen. for households earning 20 to $40,000, the tax increase would be $1,200. for householder, 40 to $64,000, the tax hike would be $2,000. and with those incomes of $64,000 up to 6 figures, it would be a $3,500 tax increase. >>> it's not all dire economic news. retailers are still looking for workers this holiday seaso
to the "fiscal cliff," it might seem like a bad time for business to bet the farm. but that is exactly what some bay area businesses are doing. cbs 5 reporter mike sugerman shows us they are hoping today's risk will be tomorrow's reward. >> reporter: the company is called jive. these days business is anything but. >> we hired over 100 people throughout the course of 2012. we have opened a new office in san francisco. >> reporter: tony zingale runs the company a social software for the workplace and it's booming not falling off a "fiscal cliff" not concerned with dark clouds over europe. it sees itself on the leading edge of recovery. >> economic downturns always have an up turn at some point and the great companies are the ones that are prepared for that. >> certainly good times in san francisco or they are coming back strong. >> reporter: at the chamber of commerce they point to a lowering unemployment rate and more jobs led by tech, healthcare and tourism. where will they all sleep in where are they going to recline? on their power recliner? >> we're cautiously optimistic. >> reporter: that th
the dreaded "fiscal cliff." if they don't reach a deal by the end of the year, tax hikes and across the board budget cuts will automatically kick in. susan mcginnis has more on today's efforts to get democrats and republicans a little closer together. >>> reporter: president obama will begin a media blitz this week highlighting his efforts to steer clear of the "fiscal cliff." he will first meet with small business owners at the white house today. at the other end of pennsylvania avenue, fellow democrat senator dick durbin will give what's being called a major speech laying out a case for a bipartisan deal. durbin's a member of the senate's gang of 8, four democrats and four republicans who have collaborated on ways to reduce the nation's debt for 2 1/2 year. democratic senator mark warner is also in the gang and says democrats are willing to put entitlements like medicaid and medicare on the negotiating table. >> the math just doesn't work anymore not because the programs are bad but because thank goodness we're living a lot longer. >> reporter
to make the pill available without a prescription. we'll talk to one of america's fiscal cliff. >> the big nut is going to have to be medicare and medicaid. >> pelley: and jim axelrod with a woman on a mission to recover memories sandy washed away. >> the storm can take our houses and possession bus she left us these photos. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. at the end of the most violent day yet in the battle between israel and the hamas government in gaza, secretary of state hillary clinton arrived in jerusalem to try to broker a cease-fire. but late today things looked frosty between the secretary and israeli prime minister benjamin netanyahu. faces were long and comments were short. she had just flown ten hours, leaving president obama behind on a tour of cambodia throughout this day there were rumors of peace but israel unleashed a ferocious bombardment of gaza from air and sea. the palestinians and gaza fired back. since this started last week, 133 palestinians have been killed in 1,500 israeli air strikes. five isr
not reform taxes and avoid the "fiscal cliff" that's scheduled at the end of the year, your tax bill could rise by the thousands. in years past, congress exempted most middle class and low-income families from something called the alternative minimum tax. if they don't renew that exemption, a family with two children making $90,000 a year could owe an extra $3,000 in taxes. >> we are going to see a lot of everyday people get caught. >> reporter: also on the chopping block a tuition credit for parents who have kids in college. in certain brackets if you have two students paying tuition you could lose a $5,000 credit. that's five grand out of your spending money. >> plan for difficult times because the taxes will go up and so what do you do? if you are spending every dollar that you're making right now and your taxes go up, do you go in debt or do you adjust what you're spending? >> reporter: grace lee, cbs 5. >> comings has until the end of the year to solve the probable -- congress has until the end of the year to solve the problems but uncertainty is affecting almost everybody. >> wall st
duck congress returns this week with barely a month left to avoid the fiscal cliff of mandatory tax hikes and spending cuts. retiring senator joe lieberman today lamented the lack of bipartisanship on capitol hill. >> in my opinion the last two years, 2011-12 have been the least productive and most partisan and uncompromising in my 24 years here. the public seemed outraged at the status quo that produced so little. >> glor: newly elected senator angus king is vowing to help break the logjam by doing what so many others in congress will not, compromise. chip reid caught up with king on the streets of maine. >> if somebody comes to you and says i'm not going to compromise, what they're really saying is i have 100 percent of the truth. i'm 100% right. >> reporter: angus king says he's 100% certain of only one thing. that neither the democrats nor the republicans are always right. that is why when he takes his seat in january as the new senator from maine he will be doing it as an independent. >> the people are absolutely fed up with this nonsense. they have had it with washington not b
in february back in 2009. but that didn't offset worries about the "fiscal cliff." little progress being made on capitol hill and the dow reacted down 89. nasdaq down 9. s&p down 7. >>> thieves know you have already started your holiday shopping. now all they have to do is wait for your packages to be delivered. cbs 5 consumerwatch reporter julie watts on ways to protect your doorstep deliveries. >>> reporter: you could call her the grinch who stole christmas. a brazen robber swiping a delivery from a front porch unabair she was on camera. >> i think it's opportunity. >> reporter: this officer says so-called porch pirating rises dramatically this time of year because there are so many deliveries and packages are easy pickings. >> they may actually be driving around neighborhoods and looking for packages and seeing whatever they see on the porches. >> reporter: but there are many options to protect your packages this holiday season. the old standards have them delivered to your work or neighbor who is home during the day, or take advantage of theft preventing delivery options like signature re
go over the fiscal cliff there is no stopping the damage. >>> superstorm sandy is still having an impact. this time on thanksgiving travelers. >>> we begin with a look at today's "eye opener," your world in 90 seconds. >> seeing the rockets back and forth as this conflict has been escalating. this is a new level of violence. >> in tel aviv a bomb rips through a city bus. >> comes after a week of attacks between the israeli defense forces and palestinians in gaza. >> efforts to end the fighting between israel and hamas so far have come up short. >> the rocket attacks on israeli towns must end. >>> secretary of state hillary clinton met with palestinian leaders this morning as talks continue to end the blood shed. >> at this stage nobody really knows. >>> millions of americans head out to their thanksgiving destinations. >> it is game on for more than 43 million americans hitting the roads. >> more than 3 million of us are expected to fly to our destinations this holiday. >> it's going to be so jammed up, listen to this, tsa agents say passengers are be
outgoing secretary of state hillary clinton. >>> more republicans say the looming "fiscal cliff" is forcing them to reconsider their no tax increase pledges. several members of congress now say they are open to raising revenue by limiting deductions for the wealthy. but not by raising their taxes. >> without compromising our principals, we recognize that none of us runs this town. >> today democratic senator dick durbin plans to lay out a proposal for a bipartisan group, the gang of 8, who have been working for a plan to reduce the national debt. if lawmakers don't pass a plan by december 31, tax hikes and budget cuts will kick in. >>> running the risk of autism. the link between pollution and pregnancy. >> plus some of the best child athletes in the country. the bay area kids who have a chance at the ultimate prize. >> but first, stranded at sea. how two men found themselves like this in a dangerous rescue after the break. when i take a picture of this check, it goes straight to the bank. oh. oh look the lion is out! no mommy no! don't worry honey, it only works on checks. deposit checks f
the pressure on republicans to avoid the "fiscal cliff." the president talked to small business owners at the white house today and he made his case to extend tax cuts for the middle class and allow bush-era tax cuts to expire for the wealthiest americans. republicans say raising taxes on top earners would hurt small businesses and cost jobs. >> we need to sit down and work this matter out. i think we have a clear sense that there's an opportunity her at the end of the year to do something important for the country. >> he has not waited for people to start smelling the jet fumes at national airport. he put forward a plan. >> if congress doesn't compromise the company will plunge into recession. >>> investigators have taken samples from the remains of long-time palestinian leader yasser arafat. eight years after his death, they are trying to determine if he was poisoned. rita nissan on a search for evidence. >> reporter: palestinian leaders laid wreaths outside the west bank grave of yasser arafat after forensic experts exhumed his body. international investigators took samples from his
changes in education. the ceo of nasdaq talks about the fiscal cliff. >> what about if the soviet union announces tomorrow, that i think he will if we attack cuba, that there will be nuclear war. >> we are going to be an easy. we have to do something. something may make them should them off. i do not think this will. i want to keep my own people very alert. >> hang on tight. >> it is a fascinating moment. it is amazing eisenhower tells him to have his people a lawyer. everybody is on edge. kennedy laughs. he says, hang on tight, which is a nice moment that even on this day they are able to joke a little bit about it with each other, especially during this crisis. i think he had a sense of foul lonely it is to occupy that office. how much advice you are getting. eisenhower knew all about faulty military advice and was able to speak with supreme authority about the dangers as well as the advantages of military advice. "q &a widmer on sunday's ." >> bill gets talked about the need of education and making college more affordable. the atlantic, at the aspen institute co hosted the forum. thi
're all one day closer to the fiscal cliff. what, 34 days now? president obama is finding new ways to make his case for raising taxes on wealthier americans. >> republicans say, get off the campaign stump and get in the negotiating room and get this thing done. so it's getting interesting. >>> imagine getting hit with unpaid parking tickets that totaled $100,000. well, a woman, her ex-boyfriend, and the battle over a car that sat for three years accumulating the fines. wow! >> chicago strong. that's how they roll there. >>> later, the secrets you can learn about your health by looking in the moore rohr. there could even be clues hidden in your earlobes. mirror, mirror on the wall. >> is it really? >> who has the creepiest ears of them all? >> little waxy. >>> first did you hear that? no. it's either the clock ticking, the powerball ticket printing or the cash registers ringing. that's for sure. all of it as we get ready for tonight's enormous powerball lottery. >> like my foley effect there? >> very nice. >> the second largest lottery jackpot ever. it's at least half a billion, and strong
have the fiscal cliff issue that is are fwfer congress and i think it's a real open question about whether we're going to have a politically induced recession. we're 40, 50 days away. you see a lot of turbulence in the markets over the next months but this is a political crisis that is going to be bring about an economic crisis if it doesn't get solved. but for the entire history of the country people do profoundly disagree with each other, have been and sometimes don't like each other very much have been able to sit across from each other and do the business of the american people. and that's what the moment requires now. on the question of screaming at each other we should understand that there are tremendous market incentives for people to go on tv and attack each other and insult each other verbally and you make a lot of money doing that. for the most part, moderate reasonable voices aren't rewarded with media platforms in the country anymore. and you see a tone and i think that this is a larger cultural issue. it manifests itself in politics but i don't think politics drives i
30 we have to worry about. if congress doesn't reform taxes and avoid the "fiscal cliff" at the end of the year your tax bill could rise by the thousands. in years past, congress exempted most middle class and low-income families from something called the alternative minimum tax. if they don't renew that exemption, a family with two children making $90,000 a year could owe an extra $3,000 in taxes. >> we are going to see lots and lots of everyday people get caught. >> reporter: also on the chopping block a tuition credit for parents who have kids in college. in certain brackets if you have two students paying tuition, you could lose a $5,000 credit. that's $5,000 out of your spending money. >> plan for difficult times. taxes are going up. so what do you do? if you're spending every dollar you're making now and your taxes go up, do you go in debt? or do you adjust your spending? >> reporter: those are just a few examples of what is at stake here. while congress has until the end of the year to solve some of these problems, the uncertainty is really affecting almost everyone. not know
the looming "fiscal cliff" and a positive start this morning. let's look at the numbers. right now the dow is gaining 58 points. nasdaq is up by 16. s&p moving higher by 6 points. and walmart shares are moving just slightly higher. michelle and brian, back to you. >> thank you, jason brooks with kcbs and cbsmoneywatch.com. >>> following in the footsteps of online retailers the cash- strapped u.s. postal service will be testing out same-day delivery this holiday season. same day. it will happen here in the bay area. the u.s. ps will partner with retailers and begin offering the service in san francisco this december. if things run smoothly it will en spanned to new york, chicago -- it will expand to other cities like new york, chicago and boston next year. >>> it's 6:49. let's check the weather. >> if they run smoothly. >> yeah. >> but they have to do something. the postal service is losing lots of money around the nation. wow. all right. shall we talk some weather? >> why not. [ laughter ] >>> around the bay area today, we are look at some sunshine coming our way. couple of patches of grou
to avoid the so-called fiscal cliff. obama talked about of the obama family, i want to wish everybody a very happy thanksgiving. for us, this is a day full of ta family, i want to wish everybody a very happy thanksgiving. for us, this is a day full of family and>> on behalf friends,d football. it is a date to fight the urge to take a nap, at least until after dinner. most of all, it is a time to give thanks for each other and for the bounty we enjoy in this country. that is important this year. we have just emerged from a campaign season that was passionate, noisy, and vital to our democracy. it also required us to make choices. sometimes that led us to focus on what sets us apart rather than ties us together. thanksgiving is a chance to put it all in perspective. to remember that, despite our differences, we are americans first and foremost. today we give thanks for blessings that are too rare in this world, the ability to spend time with the ones we love, to say what we want, worship as we please, note that there are men and women defending our freedom around the globe into book our
of this morning's headlines. dersressional leaders are looking at win/win scenarios to avoid the fiscal cliff. te goal is to bring in more revenue without raising tax rates, allowing both appears to say we stood our ground. high income tacks payers thaksed inco at the top rate. >>> a new arms race in cyber space. many governments are worried hat hackers could get into aeir mainframe computers, eurning to american companies ky, those that can be tricky, though. u.s. company needs a license from the state department before t can work for a foreign country. >>> usa today reports delve straighting drought is expected to last until e >>> we're looking very nice outside right now. the sun is up and looking good today. going to see a lot of sunshine throughout the entire day a few high clouds overhead. we have been seen patchy fog in the valleys. the temperatures now still chilly 39 degrees in santa rosa, 41 in san jose. 54 degrees in san francisco this afternoon, expecting lots of 60s. some places maybe sneaking into the low 70s. next couple of days going to be a beautiful weekend ahead other than some
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